Warren Buffett’s Berkshire Hathaway Shows Strong Stock Gains, but It Takes a Big Hit on Precision Castparts

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Berkshire paid about $32 billion in 2016 to purchase the maker of aircraft parts. Operating income excluding investment gains totaled $5.5 billion, down 10% from $6.1 billion in the second quarter of 2019, while operating income per share was about $3,422 per class A share, in line with the Bloomberg consensus estimate of $3,418 and down 9% from $3,755 a share in the year-earlier period. The decline reflected sharply lower earnings at Berkshire’s manufacturing and service businesses, as well as a drop at the Burlington Northern Santa Fe railroad.

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